California Government Grants & Down Payment Programs

The primary goal of affordable housing is to lower the monthly housing costs for low- and moderate income families. But research shows that affordable housing development also drives local economic growth. Investing in affordable homes increases revenues for California, contributing to rising employment and economic recovery. Research suggests that efforts to create affordable and sustainable homeownership opportunities for low- and moderate-income households can lower participants’ risk of delinquency and foreclosure. Some effective programs provide zero-interest loans for down payment and closing cost assistance; others lower the cost of the home to a level affordable to working families; still others simply provide sound underwriting for prime loans in typically underserved areas. Illustrating the effectiveness of such efforts, one study finds that among low- and moderate-income borrowers, those who received subprime loans were three to five times more likely to default on their mortgage than those who received prime loans through an affordable lending program.

California Recovery & Reinvestment

In February of 2009, politicians approved the American Recovery and Reinvestment Act to help jump-start America's economy. The landmark measure includes targeted tax relief and significant investments in such vital areas as education, transportation, healthcare, science and technology and energy-efficiency.

The California Recovery Task Force established a web site to provide the public with information about how American Recovery and Reinvestment Act funds are being expended. Some of the information includes funds received and administered by California for Recovery Act activities, links to job openings, how to bid on state contracts, and how Californians can take advantage of Recovery Act opportunities.

Housing California

Since 1988, Housing California has been working to prevent homelessness and increase the variety and supply of safe, stable, accessible, and permanently affordable places to live. Housing California staff accomplishes its goals through education, advocacy, and outreach. Housing California is the voice in the state Capitol for children, seniors, families, people experiencing homeless, and everyone who needs a safe, stable affordable place to call home.

Building a variety of quality, affordable places to live in every community will strengthen California's housing market and provide those on fixed incomes and modest budgets more choices in where they can live. Everyone should have the opportunity to live in a community he/she is proud to call home.

Department of Housing & Community Development

The Department of Housing and Community Development (DHCD) accomplishes it's mission by identifying California's housing needs and developing policies to meet those needs. DHCD prepares and implements the federal consolidated planning and performance reporting requirements for HUD, ensuring California's receipt of millions of federal housing and community development dollars. DHCD also administers state housing element law, including the review of local general plan housing elements; prepares numerous state plans and reports and conducts research to facilitate housing development and improvement, including an annual report on redevelopment agencies housing activities; and provides a wide range of technical assistance to local governments, public and private housing providers, business and industry groups, housing advocates and interested citizens.

California Housing Partnership Corporation

The California Housing Partnership Corporation (CHPC) is a private nonprofit organization dedicated to helping government and nonprofit housing agencies preserve and expand the supply of affordable housing for lower income households throughout California. Since its incorporation in 1988, CHPC has helped its partners to create and preserve more than 13,000 affordable homes in California and provided training and technical assistance to more than 5,000 individuals.

CHPC is unique in combining extensive experience in multifamily housing finance transactions with a deep commitment to affordable housing policy and technical assistance. CHPC regularly advises California’s housing agencies and the legislature and Congressional staff on housing resource issues and is recognized as a national leader in the field.

California USDA Rural Development

USDA Rural Development is committed to helping improve the economy and quality of life in rural America. Through many programs, USDA helps rural California in many ways. Financial programs support for essential public facilities and services as water and sewer systems, housing, health clinics, emergency service facilities and electric and telephone service are a few. USDA promotes economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools.

Single family and multi-family housing programs provide homeownership opportunities to low- and moderate-income rural Americans through several loan, grant, and loan guarantee programs in California.

California Housing Consortium

The California Housing Consortium (CHC) is a statewide housing advocacy organization representing the development, building, financial, and public sectors united in a non-partisan effort to advance affordable housing and community development across California. CHC’s purpose is to build consensus across a diverse membership on the myriad issues that influence the production and delivery of affordable rental and homeownership opportunities throughout California.

CHC's mission is to collaborate among housing providers, business leaders, non-profit organizations, and government at all levels to increase the availability of rental and homeownership housing for low-to-moderate-income Californians. Advocacy efforts are focused on creating and preserving sustainable communities that are essential to California's prosperity.

California Coalition for Rural Housing

The California Coalition for Rural Housing (CCRH) is a statewide nonprofit organization that works to ensure affordable housing opportunities for low income households in California. Formed in 1976 following a farmworker housing conference, CCRH is one of the oldest state low-income housing coalitions in the country.

Through advocacy, organizing, research, and technical assistance, the goal is to make the case for rural housing improvement and strengthen the capacity of the nonprofit and public sectors to provide affordable housing and related facilities. Members are primarily community-based nonprofit and public developers, including the largest self-help housing producers in the United States, as well as local government officials, and local activists concerned about rural quality of life.

FHLBank San Francisco

In 1932, Congress established a system of 12 home loan banks to provide low-cost credit to residential housing lenders. FHLBank San Francisco, a privately owned, federally chartered corporation, promotes affordable housing by providing wholesale products and services that help member financial institutions expand the availability of mortgage loans, compete more effectively in their markets and foster strong and vibrant communities.

FHLBank San Francisco also supports affordable housing and economic development through partnerships with local communities. As part of this effort, contributing 10% of income to the Affordable Housing Program, which provides grants to create affordable housing for lower-income households throughout California.

California Housing Finance Authority

For 35 years, the California Housing Finance Agency (CalHFA) has supported the needs of renters and first-time homebuyers by providing financing and programs that create safe, decent and affordable housing opportunities for low and moderate income Californians. Established in 1975, CalHFA was chartered as the State’s affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds.

A big priority has been to introduce, with the assistance of the U.S. Treasury, a new single-family lending initiative to start helping first-time homebuyers in California once again. New loans, new locations, new products, and new programs to fulfill the mission of financing affordable rental housing and helping first-time homebuyers.